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Discussion Starter · #22 ·
Doug Porter, chief economist at BMO Capital Markets, said prior to the data release that an inflation reading in the mid-7% range for May "will be enough to convince the Bank of Canada to unleash a 'highly unusual' 0.75-point rate hike," like the Federal Reserve did this month. Traders in the overnight-index swap market are leaning toward such a jumbo-sized move when the Bank of Canada issues its next decision on July 13.

 

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In the last 8-10 days, interest rates on the market are down 0.3%. Oil is down 15-20%, most commodities are down including food, fertilizer, metals, and energy. Although these things can reverse and go back up, the rate of inflation will come down in July from June quite a bit if prices hold steady. So maybe we are at peak inflation now. At least in North America.
 

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In the last 8-10 days, interest rates on the market are down 0.3%. Oil is down 15-20%, most commodities are down including food, fertilizer, metals, and energy. Although these things can reverse and go back up, the rate of inflation will come down in July from June quite a bit if prices hold steady. So maybe we are at peak inflation now. At least in North America.
Yeah, I alluded to this earlier.
My thoughts are with you.

Gas is under $2/L now in Ontario.

I think we are probably at or pretty close to peak inflation, just as you say.
 
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